Gold Investment News

After fears in the strength of global currencies grew and ever greater concerns about the risks of inflation started to nag, a rapid gold price surge was eventually triggered in the last quarter of 2009. Gold prices rose from around $998.00 an ounce at the start of October 2009 to over $1200.00 an ounce by early December 2009. As December rolled forward there was a sharp correction in bullion prices as investors and traders eagerly cashed in some of their year’s profits. The question now is ‘are we at the start of the next gold price surge?’

At Shelter Offshore we don’t claim to be mystics or clairvoyants able to guess exact bottoms or tops of any market price, however we are keen gold price observers and the recent price drop and correction in gold prices does seem to have levelled out and reversed over the past few days. This could well be an indication that it’s a good time to get into the gold bullion market at a reasonable price.

After storming forward to over $1200.00 dollars an ounce in December the sharp gold price correction ended just before Christmas when prices slipped a little below $1080.00 an ounce since then prices have levelled out and started to show a steady reversal. As I write the current gold price is $1125.20 an ounce up over $40.00 an ounce since 22nd December. Will the upward trend continue? 

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The news that the price of gold futures fell yesterday and that gold has only achieved modest gains in the second quarter of 2009 anyway, suggests that the appeal of this commodity is perhaps waning – amongst smaller investors anyway.

So is gold no longer an attractive commodity?  Or is it still worth an investment as a way to hedge your bets?

We believe that gold is, and always will be, a good investment – even if it’s only in the form of a piece of attractive jewellery!  So in this report we’ll take a look at the fluctuating fortunes of gold, and why it should perhaps form part of your long-term portfolio strategy after all.

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During Tuesday’s summit between Brazil, Russia, India and China (BRIC) at Yekaterinburg, in Russia, Arkady Dvorkovich, a top economic aide at the Kremlin expressed a need for a cautious approach to changing the system of the global reserve from over dependency on the U.S. Dollar.

The statement seems clear enough, take a cautious approach, but none-the-less it’s time to remove the U.S. Dollar as the world’s dominant reserve currency.

While the debate continues about whether to use a basket of different national currencies or to create a new super-national currency, this will all lead to a certain degree of uncertainty about the dollar’s future role - or for that matter, the future role of any major currency.  So our question at Shelter Offshore is: “what about gold instead?”

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